Listed by Greene Commercial
$699,999
101 Division St NW
Details
APN 70400103800
Property Type Retail
Sub Type Restaurant
Square Footage 1,620
Units 1
Tenancy Vacant
Price per SqFt $432
Year Built 1904
Buildings 1
Lot Size (SqFt) 7,725
Zoning HDC-3
Ground Lease No
Sale Condition N/A
Retail | 1,620 SqFt Turn-Key Restaurant Opportunity in West Olympia
Marketing description
This 1,620 square foot standalone restaurant presents a rare turnkey ownership opportunity on the Westside of Olympia. Originally constructed in 1904, this single-tenant building occupies a 0.18-acre lot and previously served as the location for the highly rated La Petite Maison.
The facility is a fully operational and licensed restaurant business ready for immediate use by new operators. As an owner-occupied retail space, it provides a unique chance to acquire a local gem in a well-established neighborhood. The two-story structure is situated at the intersection of Ascension and Division, and is classified for retail mixed use.
Prospective buyers may consider various financing options, including cash-out, conventional, or SBA loans.
Investment highlights
Prime Location & Established Legacy
- High-Visibility Westside Position: Situated at a prominent corner intersection (Ascension and Division) in a highly established, desirable West Olympia neighborhood.
- Historic Charm: Originally built in 1904, the property offers a unique, character-rich aesthetic that stands out from modern strip-mall retail spaces.
- Proven Location: Previously home to the highly rated and locally renowned restaurant La Petite Maison, proving the site's long-term viability for food and beverage concepts.
Turn-Key & Operational Efficiency
- Immediate Commercial Readiness: This is a fully licensed, standalone restaurant opportunity. A buyer can bypass the massive capital expenditures, supply chain delays, and permitting headaches typically associated with building out a new commercial kitchen.
- Smart Multi-Level Layout:
- First Floor: Dedicated to customer-facing dining, a fully equipped commercial kitchen, and a walk-in cooler.
- Second Floor: Ideal for administrative and back-of-house support, featuring dedicated laundry, a bathroom, and multiple storage rooms to keep operations organized.
- Outdoor Amenity Space: Includes a dedicated deck and porch area, perfect for seasonal outdoor seating or expanding the customer experience.
Strong Submarket Demographics (5-Mile Radius)
- Affluent Customer Base: A high median household income of $94,300 (projected to grow to $96,100 by 2029) ensures strong discretionary spending power in the immediate trade area.
- Growing Population: Serves a robust market of 149,100 residents, which has grown 5% since 2020.
- High Market Stability: The local housing market boasts an incredibly tight 20-to-1 ratio of occupied to vacant units, reflecting an active, stable, and highly engaged community.
Flexible Investment & Financing Profiles
- SBA Loan Eligible: Because it is configured for owner-user occupancy, prospective buyers can leverage highly favorable SBA financing (requiring as little as 10% down), in addition to conventional or cash-out options.
- Retail Mixed-Use Zoning: The zoning allows for versatile long-term reuse or redevelopment potential should an investor want to transition the concept in the future.
Listing Contacts
Listed by Greene Commercial
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